CSPAN Rep Paul Kanjorski Reviews the Bailout Situation

http://a1b5jj.blogspot.com/

Kanjorski has since tried to make the same point several more times, and Kashkari as well, but no one is paying attention, see the following:

http://a1b5jj.blogspot.com/2009/03/co...

NOTE - Kanjorski's recollection of the dates may be inaccurate. The NYT shows the bank run as happening on the 17th 18th not the 11th. Some have alleged a 911 connection making the bank run an attack on the nation, but the failure of Lehman seems to have triggered widespread panic which accounts for the bank run. Limbaugh asserted a George Soros conspiracy theory which is pretty laughable.

See this article:

http://www.nytimes.com/2008/10/02/bus...

also

http://a1b5jj.blogspot.com/2009/03/91...

Wow, the nation's #1 bloviating traitorius demagogue, Rush Limbaugh played this very clip on his 2/10/09 show and has a direct link to it on his website!!!! No wonder it got 30,000 hits in one day!

Also, Olbermann used this clip on his 02/10/09 show, maybe after hearing it on Limbaugh's show. Olbermann's guest commentator was skeptical about Kanjorski's accuracy on the 550 billion number.

Now quite a few news sites have links to this clip.

At least, as far as I can tell the clip I posted is the only one on Youtube (though it has been cloned a few times via LiveLeak), and Olbermann featured a Youtube version which very likely is the same one I posted! WhoooHoooo!

in response to the usual CSPAN hysterical caller, Rep Kanjorski gives his perspective on the bailout, it is especially interesting to hear how the money market drawdown threatened to collapse the entire world economy in 24 hours back in the fall of 2008, which was the motivation for the first 350 billion.

• Category

  News & Politics

[siesta000000]

I was one of the people who contributed to the run on the money markets. There are no conspiracy theories. When the Reserve Fund "broke the buck," I shifted all my money market investments into savings and checking accounts at banks. I did not want to be caught with worthless paper in the commercial markets.

I'm far from being a part of a conspiracy. Don't believe everything you hear from conspiracy theories.

A run on the money markets was completely natural due to the circumstance.

[BlueEagle8]

Didn't matter. Obama and McCain are two heads of the same snake.

[stanczyk11111]

eat the banksters !

[Tautoulogic]

unbelievable.

They must have been scared to death obviously. what else could they do but comply.

[JeremyKilroy]

Can you tell me what you mean by, "When the Reserve Fund "broke the buck,"

What is it that you found out. Did it happen during the time this guy is talking about and did the window get closed on you or did you move your investments before it was closed?

[reassor]

so who did the bank run? cause i dont get it?

[klg1956]

How come they can pinpoint it to one bank in Florida but they don't know who did it on 9-11-2008 at 11:00 in the morning....just a coincidence, really?

[klg1956]

1:16--buying dirty assets--defective loans--aka subprime loans--TARP means troubled asset relief program...relief for whom? the banks..why? bad assets Andrew Cuomo HUD secy forced the banks to give subprime (bad) loans to unqualified customers..lending my bank account money to bad debtors...loans then defaulted...so my money in my bank acct would not be returned to my acct...the banks were then bailed out so they wouldn't go bankrupt..FDIC is now broke! On Sept. 11th--Thursday--2008 at 11:00am

[19skerge19]

Doing what they do, putting out propaganda.

[pdxeddie1111]

I expected them to fail and I had skin in the game but it was the only right thing to do. WTF is gonna buy "dirty assets" that isn't getting it for pennies on the dollar? SO it wasn't assets we were buying with our taxes it was us getting the shaft

[thadgiles513]

Your vid is popular on Serbia

[itostrong923v]

Your video is a favorite on Mozambique